Celerity paid Eagle Broadband $662,308 for the purchase of these shares and for the retirement of the remaining $350,000 portion of a $500,000 convertible note outstanding held by Eagle Broadband.
Celerity President and CEO Robert Legnosky stated, "Through this transaction, we are reducing our outstanding debt as well as our outstanding shares as part of a continuing strategy to strengthen our operations and enhance shareholder value. Celerity's fundamentals are improving, and our repurchase of the convertible debenture demonstrates our confidence in our financial outlook and prospects for growth."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
Company Contact: Investor Relations Contact:
Robert Legnosky, President & CEO Gary Geraci
Celerity Systems, Inc. OTC Financial Network
865-539-5300 781-444-6100 ext. 629
garyg@otcfn.com
SOURCE Celerity Systems, Inc.
CONTACT: Robert Legnosky, President & CEO of Celerity Systems, Inc.,
+1-865-539-5300; or Gary Geraci of OTC Financial Network, +1-781-444-6100
ext. 629, garyg@otcfn.com
URL: http://www.celerity.com http://www.prnewswire.com
(...)
Celerity President and CEO Robert Legnosky stated, "Through this transaction, we are reducing our outstanding debt as well as our outstanding shares as part of a continuing strategy to strengthen our operations and enhance shareholder value. Celerity's fundamentals are improving, and our repurchase of the convertible debenture demonstrates our confidence in our financial outlook and prospects for growth."
(...)
Share Statistics
Average Volume (3 month): 18,147,818
Average Volume (10 day): 9,063,000
Shares Outstanding: --->4.70BILLION
Float: --->4.56BILLION<---
% Held by Insiders: 3.00%<--ALERT--
% Held by Institutions: N/A
Shares Short (as of 8-Oct-99): 2.00K
Daily Volume (as of 8-Oct-99): N/A
Short Ratio (as of 8-Oct-99): 0.056
Short % of Float (as of 8-Oct-99): 0.06%
Shares Short (prior month): 1.00K
Nice web site. Lots of info. They should update their PR though. The link takes you directly to the investors info...they seem to have a hotline but I didn't call yet.
Malloy
They have a product that is more and more in demand (video on demand over web). They have some holdings producing small revenues. Web site's fine. Investors relations seems to be important.
Knobias reports 4.8 Billions shares. Price is around .0015. CMKX,s got how much more OS...for a price around .001...
Malloy
CHEERS!!!!!!!!!TROUT
A/S 04/15/2004 5,000,000,000 10-K
O/S 04/23/2004 4,806,051,556 MGFS
Almost maxed out on number of O/S.
Do you think that they'll issue more shares soon? Perhaps that's the reason why such good news failed to move the PPS?
But I think they used all their shares to get money for the company they are buying and backing up. If so, they might be investing for a good cause. Got to dig more.
So quiet now....heum.
Malloy
quote:
Originally posted by SimpleGuy:
MalloyA/S 04/15/2004 5,000,000,000 10-K
O/S 04/23/2004 4,806,051,556 MGFSAlmost maxed out on number of O/S.
Do you think that they'll issue more shares soon? Perhaps that's the reason why such good news failed to move the PPS?
Malloy
[This message has been edited by Malloy (edited June 15, 2004).]
(...)announced today that the Company has reached an agreement with Eagle Broadband, in which Celerity purchased 140,598,524 shares of its common stock and a $350,000 convertible (...)
If they are buying back their shares, I don't think they will issue more...don't you think?
Malloy
quote:
Originally posted by SimpleGuy:
MalloyA/S 04/15/2004 5,000,000,000 10-K
O/S 04/23/2004 4,806,051,556 MGFSAlmost maxed out on number of O/S.
Do you think that they'll issue more shares soon? Perhaps that's the reason why such good news failed to move the PPS?
Celerity President and CEO Robert Legnosky stated, "Through this transaction, we are reducing our outstanding debt as well as our outstanding shares as part of a continuing strategy to strengthen our operations and enhance shareholder value. Celerity's fundamentals are improving, and our repurchase of the convertible debenture demonstrates our confidence in our financial outlook and prospects for growth."
I hate those games. MM are not playing fair with us.We work hard everyday to read PR, dig info, analyse charts and then put our hard fought money on the table, and what happened....they play with us like children. Gosh.
Sorry, I'm upset.
The 141 million shares may not move the PPS by much, though. That's less than 3% of total O/S
Then again, it would make sense that CESY would want to buy back their shares at a lower PPS, which could explain the drop.
So many questions... so few answers.
quote:
Originally posted by Malloy:
Reading the PR again:(...)announced today that the Company has reached an agreement with Eagle Broadband, in which Celerity purchased 140,598,524 shares of its common stock and a $350,000 convertible (...)
If they are buying back their shares, I don't think they will issue more...don't you think?
Malloy